Limoneira (NASDAQ:LMNR) to Issue $0.08 Quarterly Dividend

Limoneira (NASDAQ:LMNR) declared a quarterly dividend on Tuesday, March 19th, Zacks reports. Shareholders of record on Monday, April 1st will be paid a dividend of 0.075 per share on Friday, April 12th. This represents a $0.30 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, March 28th.

Limoneira has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Limoneira to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 68.2%.

Limoneira Stock Down 0.5 %

NASDAQ:LMNR opened at $19.26 on Wednesday. Limoneira has a fifty-two week low of $13.88 and a fifty-two week high of $21.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.92. The company’s 50-day simple moving average is $18.46 and its 200-day simple moving average is $17.12.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. Limoneira had a negative net margin of 5.40% and a negative return on equity of 1.16%. The business had revenue of $39.73 million for the quarter, compared to analysts’ expectations of $39.07 million. During the same period last year, the business earned ($0.53) EPS. On average, equities analysts forecast that Limoneira will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TheStreet lowered shares of Limoneira from a “b-” rating to a “c+” rating in a research report on Tuesday, January 30th. Roth Mkm increased their price objective on shares of Limoneira from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd.

Institutional Trading of Limoneira

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Limoneira by 286.5% during the second quarter. BlackRock Inc. now owns 1,048,456 shares of the company’s stock worth $16,314,000 after buying an additional 777,178 shares during the period. Millennium Management LLC purchased a new stake in shares of Limoneira during the second quarter worth approximately $3,862,000. State Street Corp increased its stake in shares of Limoneira by 288.0% during the second quarter. State Street Corp now owns 242,425 shares of the company’s stock worth $3,772,000 after buying an additional 179,950 shares during the period. Geode Capital Management LLC increased its stake in shares of Limoneira by 123.2% during the second quarter. Geode Capital Management LLC now owns 321,863 shares of the company’s stock worth $5,008,000 after buying an additional 177,676 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Limoneira during the fourth quarter worth approximately $1,726,000. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.